UBS On-Air: Market Moves

UBS On-Air: Paul Donovan Daily Audio 'One Federal Reserve, many voices?'

10 Dec 2025

Contributed by Lukas

The Federal Reserve’s December 2025 policy decision is finally revealed. The Fed has seemingly not attempted to change general expectations of a rat...

Muni Panel - 2026 outlook discussion with UBS & Nuveen

09 Dec 2025

Contributed by Lukas

Tune in for a timely year-end and yeah-ahead conversation on the municipal bond market, which include 2025 performance reflections and 2026 performanc...

UBS On-Air: Paul Donovan Daily Audio 'Twelve billion dollars'

09 Dec 2025

Contributed by Lukas

Germany’s October trade surplus was larger than expected, principally because of a steeper fall in import demand. Globally, trade away from the US r...

Top of the Morning: CIO Strategy Snapshot - Running it hot

08 Dec 2025

Contributed by Lukas

We preview this week’s economic data releases, along with the December FOMC meeting. Plus, a look at some potential market-moving events to watch o...

UBS On-Air: Paul Donovan Daily Audio 'One trillion dollars'

08 Dec 2025

Contributed by Lukas

China’s trade surplus exceeded one trillion US dollars in the 11 months to November. Round numbers do not matter in economics, but trends do. This s...

Signal over Noise with Ulrike Hoffmann-Burchardi

08 Dec 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

How should I be positioned? with Richard Bernstein (RBA) and Jason Draho (UBS CIO)

05 Dec 2025

Contributed by Lukas

As 2025 draws to a close, we cap off the year with Rich and Jason exchanging expectations for the market and macro environment in 2026 - including tho...

UBS On-Air: Paul Donovan Daily Audio 'Consuming savings'

05 Dec 2025

Contributed by Lukas

Today we get information on the US consumer—but unfortunately it is a mix of old data and misdirection. September personal income and spending numbe...

Fixed Income Conversation Corner with Clayton Triick (Angel Oak) and Leslie Falconio (UBS CIO)

04 Dec 2025

Contributed by Lukas

A look at the landscape for Agency RMBS and the Housing Market, including a look at the prospects for and implications of the 50-yr and portable mortg...

UBS On-Air: Paul Donovan Daily Audio 'Labor pains?'

04 Dec 2025

Contributed by Lukas

The US labor market is, rightly, a key focus. Low fear of unemployment gave US consumers the confidence to reduce savings rates. That reduction in sav...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 53)

03 Dec 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard contemplates whether the “Santa Rally” is still alive, or if investors should pack-up for the hol...

Municipal Brief: New York City - Looking ahead

03 Dec 2025

Contributed by Lukas

In the wake of Zohran Mamdani's recent win as New York City's 111th mayor, Jeannine and Ted discuss CIO’s Risk Categories for the city's...

House Call: Talking Equity Markets with UBS Asset Management

03 Dec 2025

Contributed by Lukas

Join Jeremy Zirin, Head of the Private Client U.S. Equity Teams with UBS Asset Management, as he shares a performance update and outlook for U.S. equi...

UBS On-Air: Paul Donovan Daily Audio 'Old price data still interests'

03 Dec 2025

Contributed by Lukas

US September import price inflation is old news, but will still be poured over by economists. Exporters do not pay tariffs in any economy—the legal ...

Top of the Morning: Emerging Markets - Where luck meets skill

02 Dec 2025

Contributed by Lukas

Alberto rejoins the podcast for a macro and positioning update for the Emerging Markets, including a look at preferences across Emerging Market equiti...

Washington Weekly Podcast: Russia-Ukraine, Venezuela, Congressional agenda

02 Dec 2025

Contributed by Lukas

Shane drops by for a geopolitics roundup with updates on the latest developments with respect to the Russia-Ukraine War and Venezuela. We also review...

UBS On-Air: Paul Donovan Daily Audio 'Managing debt'

02 Dec 2025

Contributed by Lukas

Japan’s 10-year government bond auction had solid demand. Normally, this would not merit attention, but international investors have been getting an...

Top of the Morning: CIO Strategy Snapshot - The final stretch

01 Dec 2025

Contributed by Lukas

With fifteen relevant trading days remaining for 2025, investors over the next few weeks will be watching for key economic data releases, a potential ...

UBS On-Air: Paul Donovan Daily Audio 'Is a name emerging?'

01 Dec 2025

Contributed by Lukas

US President Trump indicated that a nominee for Chair of the Federal Reserve has been selected (though without giving a name). Senate confirmation is ...

Talking Markets Podcast with Phil Orlando of Federated Hermes

30 Nov 2025

Contributed by Lukas

Phil Orlando is the Chief Market Strategist and Global Head of Investment Directors at Federated Hermes. Phil reflects on the outcomes of the Novembe...

UBS On-Air: Paul Donovan Daily Audio 'Paying for price increases'

28 Nov 2025

Contributed by Lukas

Today, US consumers give thanks by spending money—cutting savings rates to buy things they don’t need. Retailers will discount prices, but those ...

UBS On-Air: Paul Donovan Daily Audio 'Something for everyone'

27 Nov 2025

Contributed by Lukas

The Federal Reserve Beige Book of anecdotal evidence changed little—a stable outlook with some concerns. In the details, manufacturers and retailers...

UBS On-Air: Paul Donovan Daily Audio 'Consumers versus prices'

26 Nov 2025

Contributed by Lukas

US September retail sales data were old news, but slightly softer. While it is tempting to blame the accelerating US inflation rate, retail sales are ...

Top of the Morning: CIO Strategy Snapshot - Further adjustment

25 Nov 2025

Contributed by Lukas

Jason drops by to explain the contributing factors to recent volatility and pullbacks across parts of the equity market, and shares expectations for t...

UBS On-Air: Paul Donovan Daily Audio 'Rate cut speculation'

25 Nov 2025

Contributed by Lukas

Federal Reserve Governor Waller advocated a December rate cut, citing labor markets. If Waller is seriously concerned about employment, this would be ...

Macro Monthly Podcast with UBS Asset Management

24 Nov 2025

Contributed by Lukas

Join Evan Brown, Head of Multi-Asset Strategy and Portfolio Manager for UBS Asset Management, for an assessment of the current macro and geopolitical ...

UBS On-Air: Paul Donovan Daily Audio 'Fiscal largesse for no progress'

24 Nov 2025

Contributed by Lukas

Signal over Noise with Ulrike Hoffmann-Burchardi

24 Nov 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

UBS On-Air: Paul Donovan Daily Audio 'Still not hiring'

21 Nov 2025

Contributed by Lukas

The September US employment report was finally released. This data’s quality has deteriorated dramatically—not because of the shutdown, but becaus...

UBS Year Ahead 2026 - Escape velocity?

20 Nov 2025

Contributed by Lukas

As 2025 nears an end, Jason Draho outlines the market and macro expectations of the UBS Chief Investment Office for 2026. We also consider whether AI...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 52)

20 Nov 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares his thoughts on what’s driving recent market momentum and the contributing factors to sellin...

UBS On-Air: Paul Donovan Daily Audio 'The exciting tale of the Federal Reserve'

20 Nov 2025

Contributed by Lukas

The Federal Reserve minutes offered some excitement, and it is not often that an economist gets to write those words. “Many” members of the Fed we...

UBS On-Air: Paul Donovan Daily Audio 'Markets, not macroeconomics'

19 Nov 2025

Contributed by Lukas

Market volatility does not necessarily reflect shifts in the economic outlook. While some companies have suggested moderating consumer demand in the ...

Top of the Morning: CIO Strategy Snapshot - Analyzing the data

18 Nov 2025

Contributed by Lukas

With the U.S. government now reopen, investors are anxious to receive economic data that was halted during the shutdown period. So, what will investo...

UBS On-Air: Paul Donovan Daily Audio 'To and fro'

18 Nov 2025

Contributed by Lukas

The latest rhetoric from Federal Reserve members is not changing policy uncertainty. Fed Governor Waller highlighted US labor market brittleness—the...

Talking Markets Podcast with Rohit Chopra of Lazard Asset Management

17 Nov 2025

Contributed by Lukas

Rohit Chopra is a Portfolio Manager and Analyst on the Emerging Markets Equity and Emerging Markets Core Equity team at Lazard Asset Management. We c...

Top of the Morning: Fixed Income Strategist - Reaching for yield

17 Nov 2025

Contributed by Lukas

Leslie and Letty join to share reflections on recent asset class performance, including a look at the key factors behind outperformance of higher-qual...

UBS On-Air: Paul Donovan Daily Audio 'Deals and delays'

17 Nov 2025

Contributed by Lukas

The Swiss-US trade deal marks another potential reduction in tariffs paid by US importers, following selective tariff cuts on imported foodstuffs. The...

Signal over Noise with Ulrike Hoffmann-Burchardi

16 Nov 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

UBS On-Air: Paul Donovan Daily Audio 'Tying tariffs to inflation perceptions'

14 Nov 2025

Contributed by Lukas

There are more reports of the US administration scrambling to cut tariffs using framework trade deals with Latin American economies. Heightened politi...

Life Sciences: Industry trends & investment considerations with Nick Galakatos, Blackstone

13 Nov 2025

Contributed by Lukas

Nick Galakatos, Senior Managing Director, & Global Head of Life Sciences at Blackstone joins Daniel Cassidy at the UBS podcast studio in New York ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 51)

13 Nov 2025

Contributed by Lukas

On this week’s episode of Viewpoints, in recognition of the 30th UN Climate Summit, Burkhard reflects on “where we are” and “where we’re hea...

UBS On-Air: Paul Donovan Daily Audio 'Inflation fears without inflation'

13 Nov 2025

Contributed by Lukas

US October consumer price inflation should have been published today. It is unlikely the number will ever be calculated, because there was no one to c...

UBS On-Air: Paul Donovan Daily Audio 'Fiscal boosts and bonds'

12 Nov 2025

Contributed by Lukas

US President Trump has suggested that most US households could receive a USD2,000 cheque from the government. Such a move would require legislation. T...

Top of the Morning: CIO Strategy Snapshot - Data backlog

11 Nov 2025

Contributed by Lukas

As the U.S. government nears reopening, Jason outlines the terms of the deal, though more importantly, explains when investors can expect to get new e...

UBS On-Air: Paul Donovan Daily Audio 'Do tariff cuts cut prices?'

11 Nov 2025

Contributed by Lukas

Media reports suggest US importers may face a lower tariff on products from Switzerland (the suggestion is that the August 39% tariff becomes 15%). Sw...

Top of the Morning: From sea to shining sea - The transcontinental railroad

10 Nov 2025

Contributed by Lukas

The 250 years of US innovation publication series highlights examples of how transformational innovation has been an engine of US economic growth sinc...

Signal over Noise with Ulrike Hoffmann-Burchardi

10 Nov 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

Across the Pond: Bubble fears meet FOMO

07 Nov 2025

Contributed by Lukas

Investors have been caught between the fear of missing the AI revolution and growing worries about an equity market bubble. With US valuations at the ...

UBS On-Air: Paul Donovan Daily Audio 'Trade trends?'

07 Nov 2025

Contributed by Lukas

Yesterday, the Bank of England did what it does best and disagreed with itself over policy. The finely balanced vote opens the way for a rate cut in D...

How should I be positioned? with Dr. David Kelly (JPMorgan Asset Management) and Jason Draho (UBS CIO)

06 Nov 2025

Contributed by Lukas

Jason is joined in studio by Dr. David Kelly for an engaging conversation about the potential path forward for monetary policy, the state of the U.S. ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 50)

06 Nov 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares some boots-on-the-ground perspectives from Cape Town, South Africa, including thoughts on the ...

UBS On-Air: Paul Donovan Daily Audio 'The Supremes'

06 Nov 2025

Contributed by Lukas

The US Supreme Court hearing on the legality of the majority of the US administration’s tariffs produced a positive reaction from tariff-related equ...

Top of the Morning: Year-end planning priorities - Retirement and tax strategies

05 Nov 2025

Contributed by Lukas

Join Justin Waring, Head of UBS Wealth Way Strategy and Solutions, as he outlines year-end planning priorities and what’s on the horizon for retirem...

UBS On-Air: Paul Donovan Daily Audio 'Talk and taxes'

05 Nov 2025

Contributed by Lukas

The economic calendar includes several central bank announcements, as well as the release of the Bank of Japan’s minutes. With limited investor focu...

Top of the Morning: POTUS 47 - IEEPA hearing, Election Day, Government shutdown

04 Nov 2025

Contributed by Lukas

Kurt drops by the studio to update on a variety of timely topics, including the implications of potential Election Day outcomes, the prospects for an ...

UBS On-Air: Paul Donovan Daily Audio 'Credit where credit’s due?'

04 Nov 2025

Contributed by Lukas

If the US had a functioning federal government, we would be getting September trade data today. In theory, one could calculate US trade numbers by usi...

House Call: Talking Equity Markets with UBS Asset Management

03 Nov 2025

Contributed by Lukas

Join Jeremy Zirin, Senior Portfolio Manager of the House View Equity Portfolios and Head of the Private Client US Equity Team with UBS Asset Managemen...

Top of the Morning: CEO Macro Briefing Book - 4Q25 update

03 Nov 2025

Contributed by Lukas

Paul drops by the studio for an assessment of the market and macroeconomic environment as we make our way through 4Q25. We focus in on the upward mom...

UBS On-Air: Paul Donovan Daily Audio 'Polls and politics'

03 Nov 2025

Contributed by Lukas

The October US ISM manufacturing sentiment poll is due. Falling survey repose rates and rising political polarisation have conspired to reduce the re...

Signal over Noise with Ulrike Hoffmann-Burchardi

02 Nov 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

How should I be positioned? with Paula Campbell Roberts (KKR) and Jason Draho (UBS CIO)

31 Oct 2025

Contributed by Lukas

Paula re-joins Jason in studio for a discussion around the US macroeconomic environment, including an outlook for growth, and Fed rate cuts. We also ...

UBS On-Air: Paul Donovan Daily Audio 'Fearing fear'

31 Oct 2025

Contributed by Lukas

We should be getting US personal income and spending data today, but because the US lacks a properly functioning government we are getting no such thi...

Fixed Income Conversation Corner Podcast with Leslie Falconio (UBS CIO) and Mike Contopoulos (Richard Bernstein Advisors)

30 Oct 2025

Contributed by Lukas

Mike Contopoulos rejoins Leslie Falconio for a discussion around year-end asset class performance expectations, the implications of a lower rate envir...

UBS On-Air: Paul Donovan Daily Audio 'British style'

30 Oct 2025

Contributed by Lukas

The Federal Reserve spoke with an almost British accent yesterday, cutting rates a quarter point with a Bank of England-like three-way vote split. Fed...

Top of the Morning: Fixed Income Strategist - Almost ample

29 Oct 2025

Contributed by Lukas

Leslie and John stop by on Fed Day for an update on fixed income markets, positioning views, and an outlook for monetary policy. We also examine the ...

UBS On-Air: Paul Donovan Daily Audio 'Another little cut'

29 Oct 2025

Contributed by Lukas

The Federal Reserve is expected to cut rates a quarter point. The absence of credible short-term data since the last Fed meeting means policymakers ca...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 49)

28 Oct 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard reflects on the current upward equity market momentum and answers the age-old question: “Are we in ...

Top of the Morning: Venezuela - Visualizing the day after tomorrow

28 Oct 2025

Contributed by Lukas

We examine the current situation in Venezuela, including a look at the opportunities and challenges facing Venezuela’s economy. Plus, thoughts as t...

UBS On-Air: Paul Donovan Daily Audio 'The Italian States of America'

28 Oct 2025

Contributed by Lukas

The IMF suggested that the US government debt-to-GDP ratio will exceed that of Italy by the end of the decade. There is no reason to suppose this IMF ...

Top of the Morning: CIO Strategy Snapshot - The two most important numbers in economics

27 Oct 2025

Contributed by Lukas

Jason sets the table for a busy week ahead which includes several Mag 7 Q3 earnings reports, the highly anticipated APEC summit, and October FOMC meet...

UBS On-Air: Paul Donovan Daily Audio 'Less tense?'

27 Oct 2025

Contributed by Lukas

Trade tensions between the US and China appear to have moved into a “dial down” phase after the recent escalation. While details will probably not...

Signal over Noise with Ulrike Hoffmann-Burchardi

27 Oct 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

Around the Horn: Monthly Fixed Income Roundtable with UBS Asset Management

26 Oct 2025

Contributed by Lukas

Tune in to hear from top portfolio managers and business heads from UBS Asset Management’s Muni, Taxable Fixed Income and Liquidity teams, as they s...

Top of the Morning: Seek opportunities in China

24 Oct 2025

Contributed by Lukas

Dan Cassidy welcomes Xingchen Yu, Emerging Markets Strategist Americas, for a timely update on China. Xingchen discusses CIO’s latest upgrades to Ch...

UBS On-Air: Paul Donovan Daily Audio 'Trade talk turmoil'

24 Oct 2025

Contributed by Lukas

US President Trump announced trade negotiations with Canada would end. Trump is unhappy with the Province of Ontario’s adverts, directly quoting US ...

Talking Markets Podcast (Investing in China) with Andrew Mattock, Matthews Asia

23 Oct 2025

Contributed by Lukas

Andrew Mattock is a Portfolio Manager focused on Chinese equities at Matthews Asia. We discuss the macro factors that have driven China’s markets, ...

UBS On-Air: Paul Donovan Daily Audio 'Blips'

23 Oct 2025

Contributed by Lukas

There has been a small blip in the oil price following the US announcement that two Russian energy companies would be blacklisted. US President Trump ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 48)

22 Oct 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares his thoughts on the performance of gold and the drivers behind 2025 performance, along with ho...

Top of the Morning: Muni Market update - Flows gather momentum

22 Oct 2025

Contributed by Lukas

Mindful of a flattening yield curve, Sudip and Jeannine join to explain where opportunities exist within munis. We also cover a performance update an...

UBS On-Air: Paul Donovan Daily Audio 'Choppy markets, in choppy waters'

22 Oct 2025

Contributed by Lukas

UK September consumer price inflation was lower than expected. Air fares and fuel prices added, but food prices seem to have been subject to more gene...

Top of the Morning: Emerging Market Equities - Positioning update & outlook

21 Oct 2025

Contributed by Lukas

Tune in for a performance update and outlook for emerging market equities. We also explain the thinking behind CIO’s recent upgrade of Emerging Mar...

UBS On-Air: Paul Donovan Daily Audio 'Trading patterns offer few surprises'

21 Oct 2025

Contributed by Lukas

South Korea’s early October export data showed strength when adjusted for differences in working days. As is now standard, semiconductor exports led...

Top of the Morning: CIO Strategy Snapshot - A better risk-reward distribution

20 Oct 2025

Contributed by Lukas

Jason joins to outline the current positioning recommendations and investment outlook from CIO (per the November UBS House View), including thinking b...

UBS On-Air: Paul Donovan Daily Audio 'Back and forth on trade'

20 Oct 2025

Contributed by Lukas

Financial markets have been pushed around by trade, again. This time the reaction has been positive, as the US seems to have moved away from its more ...

Signal over Noise with Ulrike Hoffmann-Burchardi

19 Oct 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

Macro Monthly Podcast with UBS Asset Management

19 Oct 2025

Contributed by Lukas

Join Evan Brown, Portfolio Manager and Head of Multi-Asset Strategy with UBS Asset Management, as he shares thoughts on the current macro environment ...

House Call: Talking Equity Markets with UBS Asset Management

18 Oct 2025

Contributed by Lukas

Join Jeff Hans, Senior Portfolio Manager of the House View Equity Portfolios with UBS Asset Management, as he shares a performance update for US equit...

Top of the Morning: POTUS 47 - Government gridlock, Trade update

17 Oct 2025

Contributed by Lukas

Kurt drops by to update on where negotiations stand to end the U.S. government shutdown, which has now entered week three, along with the scope of imp...

UBS On-Air: Paul Donovan Daily Audio 'More changes to policy'

17 Oct 2025

Contributed by Lukas

There are reports that the US administration will extend the delay in implementing tariffs on car part imports from two years to five years. This is a...

UBS On-Air: Paul Donovan Daily Audio 'Beige flags'

16 Oct 2025

Contributed by Lukas

The Federal Reserve’s Beige Book of economic anecdotes was not affected by the absence of a functioning government. There was evidence of prices rea...

Washington Weekly Podcast: Government shutdown update, US-China trade talks

15 Oct 2025

Contributed by Lukas

Shane joins mid-week for an update on the US government shutdown, including a look at impacted services, and where negotiations stand to re-open the g...

UBS On-Air: Paul Donovan Daily Audio 'Labor weakness still beats inflation increases'

15 Oct 2025

Contributed by Lukas

Federal Reserve Chair Powell reiterated that labor market concerns dominate inflation concerns in current policy. The lack of a functioning US federal...

Industrial Real Estate: Outlook & opportunities with Dave Fazekas, Ares Management

14 Oct 2025

Contributed by Lukas

Dave Fazekas is Partner & Head of North American Logistics with Ares Real Estate. Dave joins the podcast to discuss the current investment landsc...

UBS On-Air: Paul Donovan Daily Audio 'Taking down the trade temperature'

14 Oct 2025

Contributed by Lukas

Markets have detected some shifting around in the US approach to trade with China. US Treasury Secretary Bessent was vocal in asserting that US Presid...

Top of the Morning: CIO Strategy Snapshot - Navigating volatility

13 Oct 2025

Contributed by Lukas

As investors begin a new week they are faced with the prospect of more trade uncertainty, the ongoing government shutdown, and the start of Q3 earning...

UBS On-Air: Paul Donovan Daily Audio 'Where to start?'

13 Oct 2025

Contributed by Lukas

After US President Trump’s threat to impose additional significant tariffs on US buyers of goods from China, there has been a more conciliatory tone...

Signal over Noise with Ulrike Hoffmann-Burchardi

12 Oct 2025

Contributed by Lukas

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for...

Talking Markets Podcast with Jan van Eck of VanEck

10 Oct 2025

Contributed by Lukas

Jan van Eck is the Chief Executive Officer of VanEck. We cover a wide range of top of mind topics for investors, including a look at the US macroecon...

UBS On-Air: Paul Donovan Daily Audio 'Inflation (data) is coming'

10 Oct 2025

Contributed by Lukas

The US government has announced that, regardless of the government shutdown, the September consumer price inflation data will be coming out (probably ...